Polkadot is EXPLODING! HUGE Price Potential Ahead for DOT? (Crypto Trading)
Now, if youve been around a while, you know that weve been talking about polka dot on the channel for quite some time, and it was only a few days ago, before the pump, that i was comparing it with cardano and in this video polka dot one. It was a hands down, polka, dot, win and so looking at yesterdays video as well. Where would i put a thousand bucks? Maybe you could use some of these skills that ill talk about in todays video to go through and plan yourself out how to spot some of these cryptos before they pump, but for todays video. I want to go into polka dot why this pump has happened? How we spotted it beforehand and what to look out for in terms of the pumpamentals, the hopium that people will be driving into the market, especially youtubers like myself. What you need to be aware of so make sure youve hit that, like button subscribe to the channel bell notification icon, so you can stick around and get your opium free dose of cryptocurrency content lets dive in polka dot. Usdt weve got the pump. This is old news. Now it is a few hours old and in cryptocurrency everyone wants the latest thing. So what is going to happen next, but, more importantly, the way i see it is. How can you spot this before it happens? The guys in patreon, you can find a link to at the top of the video description.
Just click on that go check out. Patreon talked about with this in patreon and also the tia members about understanding technical analysis, because the charts will always tell you the news before the news is announced and we were looking at this being a stronger cryptocurrency and you know from past experiences on the channel. If youve been around, we were looking at seoul getting in before everyone else saw seoul at 150, 200 buying the top and now its retreated. But looking at this, the main thing i was looking at here were higher lows. Now this wasnt my stronger horse through july or august, because solana was stronger at that point in time. But now that weve got some profits of solana – maybe a few other different cryptos here and there, then we can start to throw it into these cryptos, which are looking like theyre about to run and on the usd chart. We were getting higher lows all the way up and then also breaking 50 levels. The same time breaking swing tops, and so it just continued to add strength to strength for this market. Not only was the usd chart looking pretty strong, but the main chart i want to look at is the bitcoin pair and well look at that a little later on, but first i want to go through why this happened. People are probably wondering asking: how do we, how could we have known about this or what the hell is going on? So the main bit of news is the the parachain milestone is coming up at the moment, so it has been confirmed that the polka dot leadership group subsequently voted to begin auctions for parachain slots starting november 11th.
So why is this important? Well, you need the dot token in order to be a part of the auctions and start to vote, for who you want to have a parachain slot and so thats, why the dot token is pretty important to this ecosystem, but not only that, it also has massive Pumpamentals, what is pumpamentals, what are the pump mental narratives, so this fantastic tweet by secrets of crypto that we often refer back to it, continues to give us insight into the market, and so the biggest most po pumpable narratives in crypto are nfts polka, dot, ecosystem power Chains of course, eth killer, scaling, oracles gaming, etc, etc. D5 is in here i would probably put nfts in the middle and drop d5 to the outer sections of this chart here, but at the moment were looking at polka dot and you would see it across anything. Youtube twitter, its just polka dot, polka dot, polka dot parachains. This is going to be the next biggest thing, blah blah blah all right. The main thing here is what is pumpable and to make profits. Do not marry these things. Dont get sucked into the idea and the fantasy that this coin will make you rich forever thats the biggest thing here and thats, probably mostly for new investors. Most of the stuff will will likely dump 80 90 99, even the most beautiful cryptocurrencies like dot. We at least recently just saw it fall from about 50 bucks down to 10, so thats a solid 80 percent just within a bull market.
Imagine when we hit a bear market, how far this thing could dump, but before we get to a bear market, we need to pump ourselves up a little more. We need to see some of these huge insane price targets now im just drawing on the gann extension tools again and we are looking at some of the fib levels, so the fib levels further up are around eighty dollars, ninety seven dollars and about a hundred and Twenty seven dollars, thats with the current levels in mind, were looking at the all time, low price to the previous all time high and then that extension. All the way up gives us that 80, 100 127. So around that 80, 100, 120. theyre the first targets and thats what ive got my sights set on and then for a return, its not too bad. You got 100 to the first one. You got about a 200 percent to this. The third major target up here and, of course these are going to be resistance points as well, so thats, the dose of hopium that we can expect potentially coming up now. I love to pump people up and make sure everyones making their money and checking their charts and following their plans, but at the same time this is your opium free home. This stuff will come to an end, but before it comes to an end, lets jump on board with the ride so weve seen this weve got the pumpables.
We have all the narratives that are going on with the polka dot ecosystem. We have the charting weve seen where all this happens on the chart and if you want to learn more about that check out the investor accelerator premium, where i go specifically into learning how to trade finding out about wyckoff analysis. So youve got your accumulation distributions your volume, your gan analysis, swing trading. That sort of stuff is very important. If you want to learn about this long term, so weve gone through that weve got our pumpable narratives. Now what do we? What else do we have to look out for? Well? Of course, we dont want to marry the coins. We want to make sure that we are going to make some profits at the end of all of this donny big bags is really really bullish on the dot ecosystem. So if you want to learn more about the dot ecosystem, make sure to follow this account as well. So importantly, it was announced today that the dot kasama bridge will be ready by the end of the year. So this is another bullish narrative coming together. Kasama often pumps – and you know it gets a lot of coverage while it is doing that. But at the same time you want to be aware of what has already pumped and what needs to come back down. For a rest and like i said at the beginning of the video, its something that ill show at the end, specifically the kasama chart, and we can see that compared to dot and thats.
What i was talking about with the guys with the members patreon and the investor accelerator is why one looks stronger than the other. So here is the dot btc chart and then well compare these two kasama, so youd have to wait too long. I can hear you all in the background saying just get on with it. Tell me what it is. Where are your time stamps yada, yada, okay, check it out were on dot. Btc here are the lows on the way up. Weve got the peak just in september before we had that correction now, its always important to check the dot bitcoin chart or the btc pair for anything that youre looking at, because it can look pretty strong on the dollar chart. But if the btc chart is not holding up and not supporting itself, then you might just get a lackluster grind up in those altcoins and its pretty common across youtube twitter. Everything like that, find someone who looks at the btc chart as well, and there are plenty of those guys because most people just say buy this thing, buy the dip, its fantastic and theyre and theyre, not looking at the btc chart and bitcoins going up. So everyone looks like a genius when bitcoin is going up, because the usd chart will continue to go up as well, but theyll continue to lose ground against bitcoin or just go sideways, so youre, basically exposing yourself to a ton of risk.
You came here to find out how can you find that this is stronger well im, looking at the double bottom here on the gan extension here or the gan retracement were looking at the major low to the major high. So, in this smaller period here weve bounced off that twice can i be wrong? Yes, i can definitely be wrong. I know ive pumped up my analysis here quite a lot, but i can definitely be wrong because this has been short term bullishness and buying at these levels, like i have done over the last couple of days and all the receipts are in the members group as Well, you can see that on my posts at around this 50 58 000 to about 60 000 61 000 against the dot btc chart so were up a day, fantastic, but a big thing here, im noting is that were broken through some highs. Like i said earlier, can i be wrong? Yes, i can definitely be wrong. I would be wrong when these lows are taken out, but of course, ill have some stops in place and say well. Analysis was good for a shorter period of time than i was expecting, and i need to cover my ass and get some of my profits off the table or get out break, even because i never want to let a profit run into a loss. Thats. A very common saying and always remember that dont want to let these things run into a loss.
Okay, so thats, where i could be wrong. These levels are taken out at around that 56, 57, 000 satoshi level, but at the moment were going good lets, stick with the the opium and the positivity here, so dot btc thats. How i saw it here, looking at the bitcoin chart, was strong on the 50 levels of the gan extension. This is a drawing tool that you have to learn how to implement its, not just an indicator that you can click on. You have to learn how to draw that tool. In there dot usd it was making higher and higher lows. It was a bubble at 50 levels, so they checked out two of those things checked out for me, and i liked that that was pretty positive for me and i thought these were going to go next, maybe for a short period, maybe for a long period. Well see, the other thing is the dot eth chart. So is what im investing in going to go up against usd? Is it going to go up against bitcoin, and is it going to go up against ethereum? Well, ethereum was slightly weaker theres, a lot weaker since the march highs, but dot has started to make its grinding way up since july and its now starting to break some of these previous highs. Before when i was looking at it, it was still at around these levels, but it was starting to put in some early breaks, so thats much higher risk putting in the earlier breaks, but youve got to risk it for the biscuit now.
The biggest warning here is something like kasama now i think kassam will do well, but it has been pumped up a lot and, as you can see from some of these tweets here, dhoni big bags loves the kasama. Everyone loves kasama, its its a real thing out. There thats being used, but i want to go to the charts, because the charts tell me what the story is and you can see that kasama hasnt had as big of a move than than what dot has had and kasama on. Btc is looking far far weaker. Its breaking lows and its not above its 50 level, and so this is looking weaker on a bigger time frame. It does have some lows that it is holding. We could draw a line there. We could draw it back down to join up with these lows, but at the moment its weaker than dot, it can come back and if it does, itll probably make more gains than dot. But for the moment it is looking weaker than dots. So, for me these are trades im not going to get married to them. So i want to make sure that they are working for me early on and then i can come back and maybe throw some of the profits into something that has been slower for the time being, and then i can make those profits later on pretty much the Whole strategy that ive done on the channel, if youve been following, which is another good reason to subscribe and like the content up so that you can see it thats.
The strategy ive been looking at here is to buy stuff which is moving like solana, is an example ill go back to that because thats something that i talked about on the channel, take some of those gains off and then go and throw it into something else Which isnt moving and not just the stuff where people continue to pump up and it doesnt move thats? Not what you want. You want to find it on the chart. Okay, so casama btc is still a little slow because summer, usd on the other hand, looks okay. So this is where the two arent marrying up at the moment, but i do think itll come back during this next cycle and everyones going to look like a genius again because i mean thats what happens in a bull market. The real hard part is when the top comes in, and then after that point in time when the bear market comes in. That is when things get really difficult and i wont be buying every dip at that point. So if you want to know more about when to buy the dips, which are the juiciest dips to be buying, make sure youre subscribed, check out patreon and premium down below the investor accelerator links are right at the top.